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Exam 8: Entrepreneurial Strategy and Competitive Dynamics

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Question 41

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The business-to-business cleaning supply company,Ecolab,encouraged a leading competitor,Diversity,to adopt a strategy to go after low-volume,high-margin customers.What Ecolab knew that Diversity did not is that the high servicing costs involved with the segment makes it unprofitable.Ecolab bid high enough to lose the contracts to Diversity but low enough to ensure that Diversity lost money.According to the Stalk and Lachenauer book,this is an example of the strategy to

A) plagiarize with pride.
B) deceive the competition.
C) raise competitor costs.
D) unleash massive and overwhelming force.

E) A) and B)
F) B) and C)

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Question 42

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According to the text,for an entrepreneurial start-up to be successful,three ingredients are critical.What are they?

A) good ideas, a team of investors, and a business plan
B) a viable opportunity, available resources, and a qualified and motivated founding team
C) an opportunity, a marketing plan, and office space
D) management, marketing, and money

E) A) and D)
F) B) and C)

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Question 43

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Entrepreneurial new entry is often perceived as a competitive threat to incumbent firms because most market needs are being met,either directly or indirectly,by existing firms.

Choosing which new entry strategy is best depends on competitive financial and marketplace considerations.The greatest opportunities most likely will be in existing markets,rather than in new markets.

The likelihood that a competitor will launch an attack depends upon many factors.Discuss threat analysis and how it is used.

Running Press launched the Miniature Editions line of books in 1993.Today it has sold over 20 million copies.Which of the following most closely represents their strategy?

The first personal computer revolutionized computing and how business is conducted.It was using a(n) ________ entry strategy.

The best example of a tactical action that a company might use in response to a competitive attack is to

Amazon is an example of a company that used the differentiation strategy to enter the market.The differentiation features included

Which of the following is not a common source of new business opportunities?

When launching a new venture,finding a way to begin doing business must ________ generate cash flow,build credibility,attract good employees,and overcome the liability of newness.

One of the ways entrepreneurs achieve success is by using resources more efficiently.This is an example of how entrepreneurs use a(n) ________ strategy.

BCG authors Stalk and Lachenauer published a book in which they listed competitive strategy for winning against incumbent rivals.Which of the following is not one of their suggested strategies?

The majority of entrepreneurial start-ups are financed with angel financing.

Which of the following terms is used to refer to opportunities that are practical and physically possible?

Small businesses create the majority of new jobs in the U.S.economy.

New entry into markets,whether by start-ups or by incumbent firms,rarely threatens existing competitors.

Which of the following is not a primary source of financing for entrepreneurial start-ups?

Which of the below best describes the competitive tendencies of small firms?

When a company chooses to maintain low-price dominance,it is using which tactical action?